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Groupe Aeroplan Announces Renewal of its Normal Course Issuer Bid

MONTREAL, May 12 - Groupe Aeroplan Inc. (TSX: AER)
announced today that it has received approval from the Toronto Stock
Exchange respecting the renewal of its normal course issuer bid to
purchase for cancellation up to 18,001,792 of its common shares, or 10%
of the public float of 180,017,923 common shares as at May 10, 2011,
through the facilities of the Toronto Stock Exchange and through
alternative trading systems (such as Alpha ATS), or by other means as
may be permitted by the TSX, such as block purchases, during the period
from May 16, 2011 to no later than May 15, 2012. As at May 10, 2011
there were 180,261,910 common shares issued and outstanding.

The average daily trading volume on the Toronto Stock Exchange for the
past six months was 663,384common shares. Under the regulations of the Toronto Stock Exchange, a
maximum daily repurchase of 25% of this average may be made,
representing 165,846common shares. In addition, Groupe Aeroplan may make, once per week, a
block purchase (as such term is defined in the TSX Company Manual) of
common shares not directly or indirectly owned by insiders of Groupe
Aeroplan, in accordance with the regulations of the Toronto Stock
Exchange. The common shares purchased pursuant to the normal course
issuer bid will be cancelled.

The Board of Directors of Groupe Aeroplan has concluded that the
repurchase of common shares represents an appropriate use of funds to
increase shareholder value, as the underlying value of Groupe Aeroplan
may not be reflected in the market price of its common shares from time
to time.

From May 14, 2010 to May 10, 2011, Groupe Aeroplan purchased an
aggregate of 19,754,400 common shares pursuant to its current normal
course issuer bid, representing 99% of the full amount Groupe Aeroplan
was authorized to purchase, at a weighted average price of $11.64 per
share.

About Groupe Aeroplan Inc.

Groupe Aeroplan Inc., a global leader in loyalty management, owns
Aeroplan, Canada's premier coalition loyalty program, Carlson
Marketing, an international loyalty marketing services, engagement and
events provider headquartered in the U.S., as well as Nectar, the
United Kingdom's largest coalition loyalty program. Groupe Aeroplan
also operates LMG Insight & Communication, an international
customer-driven insight and data analytics business. In addition,
Groupe Aeroplan has majority equity positions in Air Miles Middle East
and Nectar Italia as well as a minority position in Club Premier,
Mexico's leading coalition loyalty program. For more information about
Groupe Aeroplan, please visit www.groupeaeroplan.com.

Caution Concerning Forward-Looking Statements

Certain statements in this news release may contain forward-looking
statements. Forward-looking statements are included in this news
release. These forward-looking statements are identified by the use of
terms and phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "project", "will",
"would", and similar terms and phrases, including references to
assumptions. Such statements, by their nature, are based on assumptions
and are subject to important risks and uncertainties. Any forecasts or
forward-looking predictions or statements cannot be relied upon due to,
amongst other things, changing external events and general
uncertainties of the economy and the business of Groupe Aeroplan and
its partners. Results indicated in forward-looking statements may
differ materially from actual results for a number of reasons,
including the factors identified throughout Groupe Aeroplan's public
disclosure record on file with the Canadian securities regulatory
authorities. The forward-looking statements contained in this
discussion represent Groupe Aeroplan's expectations as of May 12, 2011
and are subject to change after such date. However, Groupe Aeroplan
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable
securities regulations.